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https://www.google.co.uk/search?q=LON:+NCYT&stick=H4sIAAAAAAAAAONgecRowS3w8sc9YSn9SWtOXmPU5OIKzsgvd80rySypFJLmYoOyBKX4uXj10_UNDdMMK4qNyixzeADUfRitPQAAAA&tbm=fin#scso=_syZcXuC1MtKDhbIP4pCxWA1:0,_j0EjX9bWNY3zgAb76JSACA1:0
EXCELLENT post CCK, you couldn't be any clear.
"What you see with Novacyt this morning is an expected and probably even necessary shake before the next rally"
Adding to that let me remind everybody, the MMs know where your stop losses are and limit sells and buys, so they can go up and down in order to pick up the shares that they need.
Some people keep posting here that the MMs need shares, let me tell you... when they need shares they will move the price in order to pick up those shares.
We are know building up for the next move up.
GLA
This share is no longer moved by sentiment alone, that was in the beginning.
It's been sometime now that NCYT share price settle down, I would say after the gaps in the share price were closed.
Since then this share price is moving forward in fundamentals alone(PILES OF CASH) .
The company is using this bonanza(COVID) to expand and do what they want by the time they are thru they will be a giant in the industry.
This is very clear .....
Novacyt's objective is therefore to develop a system with a reduced number of workflow steps for NPT. The Company plans to use its expertise in PCR testing to coat and stabilise the essential biological components required for its COVID-19 test onto laboratory products, such as reaction tubes. As a result, the laboratory products will be "ready-to-use" on Novacyt's q16 and q32 portable instruments and will only require the addition of a small amount of patient sample to initiate the COVID-19 test.
Also part of the NPT system is the Company's recently developed direct-to-PCR extraction kit (exsig™ Direct), which extracts RNA from patient samples and further reduces the number of workflow steps. As a result, the NPT system is ideally suited to applications in mobile settings, such as care homes, key hospital departments and other community locations. The Company expects to launch its NPT system by the end of July 2020.
Amigo’s board have an obligation to customers and shareholders to recognise this, and to be clear about the company’s current situation. They must immediately cease lending, collect in the book, pay down debt, and proceed directly to judicial review. If it is found that the FOS and FCA’s previous view is correct, shareholders will get back a good proportion of the money that was paid at float. If not, each customer will be due a payout equaling a fraction of the interest they have paid, as small compensation for a future of financial exclusion.
I started Amigo in 2005. It was the company I needed to borrow from when, as a teenager, I had started my first businesses. With guarantor-backed loans not a thing at the time, I had to wait outside Radio Rentals as my aunt signed a 12 month contract on a ludicrously overpriced PC for me, pretending it was for her. As I discovered later, I was like many financially excluded people in the UK, “bad on paper” but trusted by my friends and family and in need of a leg up onto the ladder.
We built Amigo to be a consumer champion. Sharing a board member with the debt management charity Stepchange, we visited their offices and studied their process for setting up money management plans which were affordable. As we developed Amigo’s own affordability process, we based it on the process Stepchange had in place but added electronic verifications and a layer of additional cross questioning. Our belt and braces approach was a huge competitive disadvantage in a market where banks and other lenders were doing little to nothing, and we campaigned hard for clarity and enforcement of standards. Over the following years, our campaigns made it onto the front page of The Sun, The Daily Mail, and others.
In 2016, after I had stepped down as CEO, the Financial Conduct Authority (The “FCA”) requested detailed information on Amigo’s pre-payout processes, conducted site visits, and required an independent ‘Section 166’ report on affordability assessments. No major issues were found and many parts of the process we had pioneered became the expectation for other guarantor loan companies. In 2017, Amigo was authorised by the FCA. Throughout the decade, the Financial Ombudsman Service (The “FOS”) adjudicated on a tiny trickle of complaints from customers on the subject of irresponsible lending. The decisions were almost always in Amigo’s favour.
In 2018, Amigo floated. The FCA stood by, knowing that investors were buying in believing that the company was making loans that would be enforceable. Like many investors, I took the regulator’s stance at face value. I sold the absolute minimum I could sell, and at the same time converted a loan of around £200m into shares, effectively making me the largest single ‘buyer’ of stock in the float.
In spring 2019, the FOS had a meeting with senior Amigo executives and informed them that they had changed their stance on irresponsible lending, and that Amigo should too. Previously, a commitment to a feasible budget plan based on a combination of verified and self certified data was sufficient. Now, irrespective of the budget plan, any indication that the customer had been living beyond their means (or might do in the future) became a reason to retrospectively refund all interest payments as far back as 2010. Loans to customers with no credit problems, but who had an overdraft or a credit card which had not been cleared in full at the end of each month, became ‘irresponsible’ loans- as did loans to virtually everyone else.....
Business activities
Benamor became one of the wealthiest young people in the United Kingdom after starting his loan brokerage company, the Richmond Group, in 1999 at the age of 21.[1] Unable to afford advertising at the time he printed leaflets and delivered them on foot, walking 300 km and delivering 30,000 leaflets in the first month.[1]
Net worth
In 2018 his net worth rocketed to £1.1 billion when Amigo Holdings, the guarantor loan company he founded, floated on the London Stock Exchange in July 2018.[2]
The growth of Benamor's Richmond Group has attracted media attention. In 2007 it was reported by the Sunday Times Fast Track 100 as 29th fastest growing company in terms of sales,[1] in 2008 it was ranked 34th in the UK by the Profit Track 100 for profit growth,[3] and in 2008,[4] 2009[5] and 2010[6] it was rated as one of the 100 best companies in the Sunday Times '100 Best Companies to Work For'. In 2010 Benamor and the Richmond Group won an Ernst & Young Entrepreneur of the year Award.[7]
The self-confessed former petty criminal who founded high interest lender Amigo has launched a bid to oust its entire board and threatened directors with legal action.
James Benamor branded the ailing company a "dumpster fire" as his privately held Richmond Group - the majority owner of Amigo - demanded an extraordinary general meeting to kick out current bosses and replace them with his own picks.
The move deepens the chaos engulfing the firm, which has already suffered the resignations of two chief executives in a year and been put up for sale. Its current boss is Hamish Paton, who is serving a 12-month notice period after resigning in December.
In a blog post, Mr Benamor - who once described himself in an interview as a former criminal - said: "As majority shareholder, I believe that the mismanagement of Amigo and resulting detriment to all stakeholders must stop now....
https://www.cityam.com/amigo-loans-puts-former-chief-glen-crawford-back-at-the-helm/
(Sharecast News) - Guarantor loans provider Amigo Holdings said on Wednesday that former boss Glen Crawford will rejoin the company as chief executive officer with effect from 1 August.
Crawford was appointed CEO of the company in February 2016 but stepped down in April last year to undergo medical treatment.
During his time as CEO, he secured full Financial Conduct Authority authorisation for the business and was responsible for the IPO in July 2018. Amigo said he led the group "through a period of significant growth" and "developed and optimised its funding structures".
Chairman Roger Lovering said Crawford was "a natural choice" and brings experience and leadership to the company "at this challenging time".
Crawford said: "I remain confident that with Amigo's excellent team pulling together, we can successfully navigate through the challenges facing the business and get back to focussing on meeting the day to day needs of our present and future customers, who are otherwise excluded from obtaining credit."
Amigo has been in the spotlight recently amid a battle between its board and founder James Benamor, who began selling off his 61% stake in June after a failed attempt to oust the board and appoint his own candidates as CEO and chairman.
The company has also been hit by customer complains. Amigo abandoned its sale plans in June as it said a surge in customer complaints meant the cost of clearing a backlog of grievances would cost at least £35m. Later that month, it warned of a "material" hit to results following a big increase in complaints.
Broker Peel Hunt said Crawford knows the company intimately, has a mastery of its detail and had a strong following among certain fund managers.
"The big question is the extent to which he was responsible for the disasters that followed his departure and he has much to prove on this point. He owns 4.6% of the company and has skin in the game," it added.
"Richmond continues to sell down 1% of the company each day and it is now down to 47.7% and a structural solution for Amigo is quite possible although the previous offer, which was subsequently withdrawn, was for 20.7p only so even on this scenario the upside could be muted relative to where the stock historically traded. Amigo is likely to remain highly volatile until greater certainty emerges."
Richmond Group is the investment vehicle of James Benamor.
3. Details of person subject to the notification obligation
Name
Richmond Group Limited
They are the ones unloading 1% daily since 19th Jun 2020 1:38 pm RNS Holding(s) in Company
Also, they announce on 5th Jun 2020 2:58 pm RNS Richmond Group Limited Update
That they have put all their shares with a broker...
(i) Richmond has placed all of its shares in Amigo with a broker, with irrevocable instructions to sell 1% of the company every trading day until Richmond's stake is reduced to zero, in the event that the current board remain in place after the upcoming general meeting on 17 June 2020 (the "General Meeting"),
So guys be careful and GLA
This tells today story...
# of Trades 204
Vol Sold 1,069,096
Vol Bought 2,382,517
The share price dropped 1,30%.
As they sell I keep topping up Ahaha!!!
https://www.share-talk.com/share-talk-bulletin-board-heroes-tuesday-7th-july-2020/#gs.9me6yj
Polaris1 for someone that have recently join this boards and have post the amount of crap around, you are a looser, you miss the boat and now are here trashing the company.
Find a life LOOSER.
GOOD LUCK TO ALL THE LONG TERM HOLDERS ANY NEW ONES.
Acquisitive Growth
With the Company’s primary focus on operations during
the current COVID-19 pandemic, Novacyt has no current
plans for further acquisitions but will continue to monitor and
assess opportunities that have the potential to benefit the
Group, including access to new direct sales channels and
the integration of key supply lines.